DoD to Use $688M in CARES Act Funds to Support Aircraft Propulsion, Shipbuilding Industries

The Department of Defense plans to use $688M in funds under the Coronavirus Aid, Relief and Economic Security Act to address the financial impacts of the COVID-19 pandemic on the defense industrial base and promote local job creation efforts, Defense News reported Tuesday.

DoD plans to obligate $171M in CARES Act funds for the aircraft propulsion sector; $150M for space launch; $150M for shipbuilding and submarine launch equipment; $80M for microelectronics; $62M for body armor suppliers; and $40M for suppliers of high-temperature materials used in the development of hypersonic weapons.

The proposed investments are part of a spending plan for $10.5B in funds the Pentagon received through the $2.1T CARES Act. DoD submitted the spending plan to Congress Friday.

The department has so far obligated only 23 percent of the $10.5B allocated through the coronavirus relief package, according to the report.

Check Also

telehealth

VA Seeks RPA-Based Software to Help Manage EHR Backlog

The Department of Veterans Affairs is conducting market research on commercially available robotic process automation technologies that can help streamline clinical document processing functions for electronic health records systems.

Anthony Cristillo SVP MSC

Anthony Cristillo Named Health Info Systems SVP at Dovel’s MSC Subsidiary

Anthony Cristillo, a more than 25-year biomedical research professional, has joined Dovel TechnologiesMedical Science & Computing subsidiary as senior vice president of health information systems.